Filing case in NCLT without approaching RERA

Hi sir...should a homebuyer directly approach NCLT without approaching RERA in case of refund

Answers (3)

309 votes

You should file a section 7 IBC Petition before NCLT as homebuyers are now considered financial creditors according to supreme court latest judgement.

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Madhav Nanda

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203 votes
You can approach either as both of these try matters in a summary manner and also in a timebound manner.

you would get shorter dates of hearings in NCLT.

Insolvency Bankruptcy Code (Amendment) Ordinance 2018 that recognises homebuyers as financial creditors under the insolvency law. Once the claim is admitted in the NCLT, the most beneficial effect is that the very next day the board of directors of that company gets suspended and it creates a lot of pressure on them.

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319 votes
Yes you can approach NCLT directly as financial creditor that will get you relief much more faster as compared to RERA, if you wish we can help you to file case in NCLT and get appropriate relief. jurisdiction of NCLT can be decided on the basis of registered office of builder

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